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Stock impact report

Broadway Financial Corporation Announces Results for Fourth Quarter and Full Year 2018

Broadway Financial Corporation - Class A (BYFC) 
US:NASDAQ Investor Relations: broadwayfederalbank.com/investor-relations
Company Research Source: Business Wire
LOS ANGELES--(BUSINESS WIRE)-- Broadway Financial Corporation (the “Company”) (NASDAQ Capital Market: BYFC), parent company of Broadway Federal Bank, f.s.b. (the “Bank”), today reported net income of $275 thousand, or $0.01 per diluted share, for the fourth quarter of 2018 compared to a net loss of $399 thousand, or ($0.01) per diluted share, for the fourth quarter of 2017. Results for the fourth quarter of 2018 included a tax benefit of $208 thousand for low income tax credits. Results for the fourth quarter of 2017 included tax expense of $519 thousand to adjust the Company’s deferred tax asset for the decrease in the federal corporate tax rate to 21% from 34% due to the enactment of the Tax Cuts and Jobs Act of 2017. Pretax earnings for the fourth quarter of 2018 were $96 thousand compared to $244 thousand for the fourth quarter of 2017. Results for the fourth quarter of 2018 included an increase of $104 t Show less Read more
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